Jewelry Insurance Tips and Suggestions
Few things are more exciting than slipping a diamond engagement ring onto your beloved’s finger. The only thing that might top it is being the one on the receiving end.
It’s one of the most momentous occasions in a person’s lifetime, and believe it or not, it’s also a great time to take a good look at your insurance coverage. Do you have what it takes to protect this significant addition to your jewelry collection?
DON’T assume your jewelry is fully covered on your homeowners policy.
DO install a home security system to your home. Not only will it help prevent theft, it may also help you get a discount on your insurance premium.
DON’T add new items to your collection without alerting your agent.
DO itemize.Take the time to write out a list of all your valuable jewelry with a brief description and the value of each item. Whenever you acquire something new, make it your number one priority to add it to this inventory and alert your agent right away. Be sure to include current appraisals.
DO create a photo and/or video inventory.In addition to your itemized list, create a visual inventory to keep on hand in case you ever have to file a claim. Take photographs and/or video of your entire jewelry collection and store it electronically so you can access it from several locations. Include receipts and appraisals in case the hard copies are destroyed or lost. Again, remember to add any new jewelry as soon as it is purchased!
Take the time to make sure your jewelry is properly insured so you can rest easy and enjoy it for years to come.
There are numerous ways to insure your jewelry. Homeowners policies are a good place to start. A lot of people like to keep their insurance policies separate and for that, we recommend Jewelers Mutual's Perfect Circle Jewelry Insurance. Find out more here:
